THIEVES on corner shop looting sprees are adding 6p to the cost of every shopper’s basket, figures reveal.
Cash-squeezed consumers are struggling to afford essentials as inflation has pushed the cost of items higher — but retailers say prolific shoplifters are worsening the situation.
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Figures from the Association of Convenience Stores found that 63 per cent of thefts were by repeat offenders, who have become more brazen as they know there is a low chance of prosecution.
Jason Birks, manager of Mosci’s convenience store in Horden, County Durham, told The Sun his shop was seeing repeat offenders steal eight times a fortnight.
He admitted: “There is little deterrence from police, so we are seen as a soft target.”
Mr Birks said he has had to start putting empty boxes of laundry detergent on shelves because they were so frequently stolen.
He said: “It started happening in the last six months, people want to sell them on rather than steal for their own use.”
Official figures show shoplifting has risen by almost a quarter in the past year across the retail industry, costing the corner store sector a whopping £125million.
The Association of Convenience Stores said the expense was adding a “6p crime tax” to every transaction, as stores had to pay for lost stock and security measures.
The Federation of Independent Retailers and the Independent Retailers Association have written to policing minister Chris Philp.
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They are asking for a £1,500 grant per retailer to pay for security systems in the thefts crisis.
Federation president Muntazir Dipoti said: “Shop theft is not victimless. It blights retailers’ lives every day.”
Sterling takes huge pounding
THE Pound yesterday slid to a six-month low against the dollar, just days after the anniversary of Liz Truss’ mini Budget madness.
Last year the then-PM spooked investors and sent the Pound to a record low of $1.03 to the dollar.
Despite an 18 per cent recovery, it is on track to have its worst trading month since the short-lived Truss era, hitting $1.22 yesterday.
Money markets fear further interest rate rises could lead to recession, denting Sterling support.
Analysts at Goldman Sachs believe it may fall to $1.18, which will hit tourists and import costs.
A cruel Summer
ASOS lowered its profit guidance yesterday after claiming a soggy summer dampened demand for its dresses and holiday outfits.
The troubled online retailer said earnings would come at the bottom of its £40million-£60million guidance after sales tanked by 15 per cent in the past three months.
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Asos, which bought Topshop in 2021, said it was using more UK suppliers to be speedier at responding to fashion trends.
It now has about 500 products which are launched from design to website within two weeks.
Do write thing, AI
GEORGE Orwell, writer of 1984, is one of thousands of authors whose work is being pirated by artificial intelligence.
A review of a BOOKS3 dataset found 183,000 books are being used to train AI chatbots like ChatGPT to communicate.
Journalist Sathan Sanghera said that “authors’ work is being exploited by big tech with zero payment”.
A group of prominent authors have launched a class-action lawsuit in New York against OpenAI in response.
Irn Bru puts fizz in shares
LOYAL Irn Bru fans have swallowed higher prices, boosting sales and profits at AG BARR.
The drinks company yesterday announced a 12.6 per cent rise in pre-tax profits to £27.8million for the six months to the end of July after sales rose by a third to £210.4million.
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AG Barr has been raising the price of Irn Bru ever since the sugar tax, brought in four years ago, made its drinks more expensive.
The company has joined a host of food and drink firms hiking prices to cover a jump in wages and ingredient costs.
It said it had absorbed some of the inflationary pressures “to remain focused on offering consumers great value”.
AG Barr, which now owns Boost energy drinks, Rubicon juices, Funkin cocktail mixers and Moma oat milk, said that it had gained market share across its soft drinks.
The business is still searching for a successor to Roger White, who has led AG Barr for the past 19 years.
Buy up to fix up
CHEAPER fixer-upper properties are proving more popular than ever as buyers look for affordable homes.
A study of more than 600,000 pads on property website Rightmove reveals that homes in need of renovation are the most in demand.
The average price of a fixer-upper home is £336,979.
That is around 8 per cent, or £29,000, cheaper than the national average property price.
Fully refurbished homes are often listed with a 19 per cent premium, or £70,000 more, at an average of £435,874.
House about that?
ABOUT seven million households are struggling to keep up with their rent or mortgage payments, a survey by Which? found.
A poll of 4,000 homes found that 46 per cent were in difficulties keeping up with payments.
Meta office axe
FACEBOOK owner Meta has paid £149million to quit one of its London offices.
The company had another 18 years left on its lease.
Meta boss Mark Zuckerberg, has cut thousands of jobs since the online boom during the pandemic — and is now surrendering the firm’s offices, at 1 Triton Park in central London.
Meta paid an equivalent of seven years’ rent to get out of its contract with British Land early.
It comes after Mr Zuckerberg told employees he expected them to be in the office three days a week.
